Sacramento Homes with Fixer Property Condition

Sacramento Homes with Fixer Property Condition

Welcome to Sacramento, the vibrant capital of California, where the rich tapestry of history meets modern living. Nestled in Sacramento County, this dynamic city offers a unique blend of urban sophistication and charming neighborhoods, making it an ideal place for both families and young professionals. Known for its diverse culture, Sacramento boasts a thriving arts scene, delicious farm-to-fork dining, and an abundance of outdoor activities along the picturesque Sacramento River.

For those with a keen eye for potential, Sacramento is home to a variety of fixer-upper properties that present incredible opportunities for investment and personalization. These homes, often nestled in established neighborhoods, allow buyers to unleash their creativity and transform spaces to reflect their unique style and preferences. Whether you’re looking for a quaint bungalow in Midtown or a spacious family home in the suburbs, there’s a fixer property waiting for you.

The city's real estate market is both accessible and promising, with many properties priced competitively. Investing in a fixer-upper not only allows you to build equity as you renovate but also provides the chance to contribute to the revitalization of Sacramento’s diverse communities. With the right vision and a bit of elbow grease, you can turn a diamond in the rough into a stunning sanctuary.

Explore the charm of Sacramento and discover the potential that awaits in its fixer-upper homes. Embrace the journey of creating your dream space in a city that combines history, culture, and a bright future. Your perfect home is just a renovation away!

Newest Sacramento Homes with Fixer Property Condition

$7,100,000
29,558 SqFt. 226089012 MLS
The Corum Building is a value-add mixed-use building that is being offered for sale for the first time in 32 years. Enjoying a high visibility location at the corner of 22nd Street and J Street, a main arterial road that connects Downtown to East Sacramento, the Corum is a 3-story midrise featuring 42 residential units and two ground floor retail tenants across 29,558 total square feet. The property is comprised to two separate structures that are connected by an outdoor stairwell and breezeway. 926 22nd Street, which is located at the corner of 22nd and J Street, is a brick-clad building that includes the anchor ground floor retail space and 25 studio units on the second and third floors. The second structure, 916 22nd Street, which is located at the corner of 22nd Street and Improv Alley, features 17 total units including 16 one-bed units and 1 two-bed unit. All 42 units have been upgraded to varying degrees over the years but most include newer LVP flooring, cabinetry, and lighting together with updated original architectural features. Capital improvements within the last 10 years includes new roofs on both structures and new electric panels at 926 22nd. The ground floor of the property is leased to two retail/office tenants including O-Toro Midtown, an established sushi restaurant with a long track record of success at the property. O-Toro leases 4,500 SF at the corner of 22nd and J St. and recently extended its triple-net lease through March 2035. The other retail space, measuring 670 SF along 22nd Street, is leased to a local non-profit through August 2026; it is possible this retail space could be converted to a 43rd residential unit. The Corum is being offered at $7,100,000 which equates to a 5.99% blended capitalization rate based on actual income and proforma expenses. Given the existing rents are about 20% below market, there is potential upside to a 8%+ annual return. The property is squarely in the heart of Midtown, just two blocks from the MARRS Building and Midtown Farmers Market, and walking distance to dozens of best-in-class amenities, parks, and the American River Bike Trail. This is a true generational investment and a rare opportunity to purchase a iconic building in Midtown.

926 22nd Street, Sacramento

Listing courtesy of Ken Turton, Broker.

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